Yesterday all three American indices dropped heavily. Today they are going down even more. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday was a shocking session. The S&P 500 dropped heavily and finished the session at the S2 support level, a little above 4490. Today it is falling even more. If the buyers don’t generate some serious appetite soon, the price could reach today’s S1. But if they do, the price might return above 4500.
NASDAQ 100
NASDAQ 100 also dropped deeply yesterday. The price finished the session slightly above the S2 support level, below 14700. Today it is falling even more. If the buyers don’t generate some serious appetite soon, the price could go down below today’s S1 and 14500. But if they do, the price might return above 14700.
Dow Jones Industrial Average
The DJIA index dropped heavily yesterday as well. The price finished the session significantly below the S2 support level, at 35100. Today it is falling even more. If the buyers don’t generate some serious appetite soon, the price could go down below 34800. But if they do, the price might return above 35100.
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